Mr. Greg Johnson reports

WELLGREEN PLATINUM SIGNS C$11.4 MILLION FINANCING PACKAGE LED BY RESOURCE CAPITAL FUND VI L.P.

Wellgreen Platinum Ltd. has entered into definitive agreements with investors, including Resource Capital Fund VI LP (RCF) and Australind Ltd., an affiliate of Alverstoke Group LLC, in respect of a financing package that will provide the company with total gross proceeds of $8.73-million (U.S.) (approximately $11.4-million (Canadian)). The total financing package consists of a $2.5-million (U.S.) ($3.3-million (Canadian)) non-brokered equity private placement and the sale by Wellgreen Platinum of a 1.0-per-cent net smelter returns royalty on future production from the Wellgreen property for proceeds of $6.2-million (U.S.) ($8.1-million (Canadian)). With these agreements in place, the company has initiated the second phase of its 2015 exploration drill program at Wellgreen and expects to undertake a comprehensive metallurgical testing program starting in the first quarter of 2016.

Greg Johnson, Wellgreen Platinum's president and chief executive officer, stated: "We are very pleased to be adding RCF and an affiliate of Alverstoke as shareholders of Wellgreen Platinum. This is an important development for the company as it brings in the funding to continue to advance our prefeasibility-level studies during a period of very challenging market conditions for the mining sector. The 2015 Wellgreen PEA demonstrated that our Wellgreen project has the potential to become a low-cost, mid-tier level producer of PGMs and nickel, with average annual production of over 200,000 ounces of platinum, palladium and gold, along with over 120 million pounds of combined nickel and copper, during its first 16 years of operation. We believe that with the financial resources and mining industry expertise that RCF and Alverstoke are able to contribute, along with the support from our existing shareholders, we can further realize the potential value of the Wellgreen deposit through continued advancement toward production."

Pursuant to the private placement portion of the financing, 13.06 million units of Wellgreen Platinum will be issued at a price of 25 Canadian cents per unit, for total proceeds of $3.3-million (Canadian) ($2.5-million (U.S.)). Each unit will consist of one common share of the company and one common share purchase warrant, which will entitle the holder to acquire one share at a price of 40 Canadian cents for a period of 36 months after the closing date. The purchase price of the units represents approximately a 10-per-cent premium to the 10-day weighted average trading price of the shares on the Toronto Stock Exchange prior to today's news release.

The terms of the agreements with RCF and Australind provide each party with the right to have one of their representatives on Wellgreen Platinum's board of directors, and investors in this financing will have the right to participate in future financings to maintain their respective equity interests. In addition, the NSR royalty contains a provision for the company to pay any Canadian withholding tax required to be remitted by the holder of the NSR royalty, and the company will grant a security interest over the quartz mineral claims and quartz mining leases that are subject to the NSR royalty. No insiders will be participating in the financing and no change of control will occur as a result of these transactions. The financing is subject to the approval of the Toronto Stock Exchange and is expected to close on or prior to Nov. 10, 2015.

About Resource Capital Fund

RCF is a private equity firm established in 1998, with a mining sector specific investment mandate spanning all hard mineral commodities and geographic regions. Since inception, RCF has supported 142 mining companies, with projects located in 45 countries and across 29 commodities. RCF is currently investing its sixth fund with committed capital of $2.04-billion. Further information about RCF can be found on its website.

RCF has a strong team of technically diverse investment professionals, with wide-ranging industry expertise and demonstrated history of investments in mining globally. RCF's record is based on its ability to pick technically and commercially compelling assets and support management to achieve desired outcomes while remaining throughout a source of patient capital. RCF aims to partner with companies to build strong, successful and sustainable businesses, and, in doing so, strives to earn superior returns for all shareholders.

About Alverstoke Group

Alverstoke Group is a private investment firm founded in 2003, and based in New York, which, together with its affiliates, engages in diverse investment activities globally, including privately negotiated investments in entrepreneurial businesses in the resource and other sectors.

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